Wednesday, December 6, 2023

Synthetix Perps Optimism Buying and selling Incentives

As much as 200,000 weekly OP shall be awarded to merchants of Synthetix Perps throughout any integration companions beginning April nineteenth at 0:00 UTC

Synthetix Perps Optimism Trading Incentives


The Synthetix Perps Optimism Buying and selling Incentives program, primarily based on SIP-2003, is about to start on April nineteenth at 0:00 UTC. This SIP was a non-binding vote by the Spartan Council to assist the Treasury Council in distributing the remaining OP held. As such, the parameters of the unique SIP have modified and needs to be referenced right here. The protocol could replace this distribution construction sooner or later with superior discover to merchants and stakers. This system goals to encourage buying and selling exercise for Synthetix Perps on Optimism by allocating a portion of the protocol’s section 0 distribution as buying and selling rewards.

Reward Construction

The buying and selling incentive program rewards 200,000 OP in weekly Synthetix Perps buying and selling rewards for 17 weeks after a three-week ramping interval. The weekly buying and selling epochs shall be structured as follows:

– Week 1: 50,000 OP

– Weeks 2-3: 100,000 OP

– Weeks 4-20: 200,000 OP

Dealer Rating Calculation

Customers shall be assigned a dealer rating primarily based on their complete buying and selling charges paid. *This calculation doesn’t rely execution charges.

`rawScore’ = tradefeesPaid

The dealer rating will then be calculated, together with a staked SNX (Synthetix) multiplier:

`traderScore = rawScore * stakedTierMultiplier`

Staked SNX Multipliers

The next tiers outline staked SNX multipliers:

0-2499 SNX : 1.00

2500 – 5,000 SNX: 1.05

5001 – 10,000 SNX: 1.075

10,001 – 20,000 SNX: 1.1

>20,001 SNX: 1.15

These tiers shall be estimated primarily based on merchants’ Synthetix Debt Shares (SDS) on the weekly staking snapshot throughout the Synthetix dapp. As a result of the value of SNX varies and the calculations estimate a staked SNX quantity primarily based on the value of SNX in comparison with SDS worth, please guarantee that you’ve got staked your required quantity by the snapshot on Wednesdays UTC.

Reward Distribution

Every dealer will then earn a pro-rata share of the whole weekly rewards primarily based on their dealer rating. The Synthetix Treasury Council will distribute OP weekly foundation to a chosen contract for integrators to attach with and allow claims utilizing their UI.

Incentive Program Mechanics

1. On the finish of every buying and selling epoch, integrators will ship an inventory of dealer addresses to sensible contract (SC) pockets mappings.

2. Synthetix Core Contributors will then carry out the mandatory calculations (see above), checking dealer addresses for SDS steadiness to substantiate the estimated staked SNX multiplier.

3. An inventory of addresses and OP quantities to ship shall be generated.

4. Integrators will obtain OP to distribute to its sensible margin mappings. Any wallets that are not a part of one other integrator’s share shall be distributed by Kwenta.

Taking part Integrators: Kwenta, Polynomial, Decentrex and dHEDGE. Any further perps integration companions launching throughout this program shall be eligible for the OP incentives.


The Synthetix Perps Optimism Buying and selling Incentive program goals to incentivize exercise on Optimism and increase liquidity for Synthetix Perps. Future weblog posts and tweets shall be made to announce the official starting of this incentive program. Have any questions? Head to the Synthetix Discord to be taught extra.

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